Random Edge, The First Fair On-Chain NFT Auction Platform, Launches
Random Edge is a transparent, verifiably random, and ultimately fair NFT auction platform that offers a shot at glory for those that participate. Time and time again there have been stories of individuals making life-changing wealth with NFTs. These kinds of stories often drive people to mint as many possible NFTs during an auction/mint, hoping to strike gold when the images are revealed. Unfortunately, the playing field is often skewed in favor of insiders, influencers, savvy coders, and others in the know.
Random Edge eliminates these inefficiencies and provides users with a level playing field by being up-front about the way their auctions work and promising only one thing: that one lucky participant will receive the majority of the funds collected from the minting event.
By leveraging Chainlink VRF, Random Edge is able to provide transparent, verifiably random results that cannot be gamed. There’s no insiders, no influencers, and no gimmicks. The way it works is simple:
1) Users will purchase NFT’s for a flat fee per NFT
2) They will receive an NFT with a randomly assigned ID
3) Once the max supply is hit or the time limit has been reached, Random Edge will call a function that uses Chainlink VRF to randomly choose one of the minted ID’s (all on-chain)
4) The user that owns that chosen ID will receive the majority of the ETH collected from the mint event automatically through the auction smart contract
Random Edge’s mission is simple: to establish a level playing field for all those that participate. Instead of rewarding early contributors, influencers, and insiders, Random Edge has decided to create a game that rewards all participants fairly so that all have an equal chance at winning. The amount of NFTs a user mints is directly proportional to their chance at winning the prize pool. Want higher odds? Mint more NFTs.
Random Edge plans to run consecutive prize pools to match the users’ appetite. They will also run multiple prize pools which will have prizes that scale proportionately to the price of mint. Some pools will have a lower cost to mint, and as a result, have a lower prize payout, while other pools will have a higher cost to mint, resulting in a higher payout. These pools will be designed to match each participant’s appetite for risk.
The bottom line? Verifiably on-chain randomness.
Random Edge aims to create a new ecosystem that matches risk with reward in a transparent, verifiable, and most importantly, fair manner. Stay up to date with more updates on the company’s Twitter account.
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